Why Multifamily Apartment Investing in Tampa is a Great Opportunity

This post is written by Trusted Partner, Faris Capital Partners. To become a contributing editor, please contact our Real Estate Investor Solutions Specialist, David Maxwell at david@reincanada.com.

If you’re looking for a great investment opportunity, multifamily real estate in Tampa may be just what you need. In this blog post, we’ll discuss why multifamily investing is a smart choice, why Tampa is an ideal market, and highlight a particular investment opportunity in Tampa that you won’t want to miss.

Why Multifamily Apartment Investing?

Multifamily apartment investing is appealing for several reasons:

● Multifamily properties provide a way to generate passive income while also building equity.
● Investing in real estate also has the added benefit of providing a hedge against inflation and providing tax advantages, such as the ability to deduct expenses.
● Multifamily apartment investing is generally considered less risky than other types of real estate investments, as the risk is spread out across multiple units. Even if one tenant moves out, there are still other units generating income. Multifamily apartment investing is a great way to build long-term wealth.

Why Tampa?

Tampa, Florida is a hot market for multifamily investing. The city has a growing population and a strong economy, with many job opportunities in industries such as healthcare, technology, and finance. The city also boasts a low cost of living, quality schools, and plenty of cultural attractions.

Tampa’s rental market is also strong, with high demand for multifamily properties and low vacancy rates. The city’s growing population and strong economy make it an ideal market for real estate investors.

Did you know Tampa also boasts these remarkable titles?

#1 Best place to live in Florida
#1 Hottest US housing market

#2 Best state for business
#3 Most popular city to move to

The Deal – Faris Residences Largo

Now, let’s get to the deal we have in the Tampa MSA.

Largo, a hidden gem located just 20 minutes away from Tampa airport and breathtaking beaches. This prime location offers a strong upside with a plethora of benefits, making it an irresistible opportunity for investors seeking high returns.

The property is currently operating at a healthy occupancy rate and generating steady rental income. With value-add improvements, the property has the potential to generate even more income and provide long-term passive income to investors.

Key Highlights: Maximizing Value

  • Rent Upside Potential: Through strategic renovations and bringing all unit rents to market value, we anticipate a $324 per month per unit rent upside. This translates to a potential forced increase of $8 million, even without natural appreciation or market changes.
  • Property Value: At $168,000 per unit, Faris Residences – Largo boasts a value of almost half of the replacement cost. This unique advantage allows us to charge lower rents than new units, providing a competitive edge in the market.
  • Assumable Debt: With an attractive assumable mortgage featuring a low fixed interest rate of 4.83%, we leverage positive financial positioning for our investors.
  • Job Market: Tampa’s job market is thriving, with 12 new jobs for every multifamily unit coming online, ensuring sustained demand for housing.
  • Pricing Advantage: Seize the opportunity to invest at a 20% discount below the 2021 price, providing a favorable entry point.

Projected Returns

Multifamily apartment investing is a smart choice for building long-term wealth, and Tampa is an ideal market for strong returns. Don’t miss out on this opportunity.

Click here to learn more about Faris Residences Largo

Multifamily investing is a smart choice for building long-term wealth, and Tampa is an ideal market for strong returns. Don’t miss out on this opportunity. Contact us today  to learn more about this particular deal and other investment opportunities in the area.

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